Idaho Investment Adviser Bond Guide
If you’re applying to be a registered investment adviser in Idaho, you need a $25,000 bond. Use this guide to learn more.
Bond Overview
- Purpose: To ensure that advisers act ethically
- Who Needs It: All registered investment advisers in Idaho
- Regulating Body: The Idaho Department of Finance – Securities Bureau
- Required Amount: $25,000
- Premium Rates: Credit-based, starting at $250
What Is an Idaho Investment Adviser Bond?
An Idaho investment adviser bond is a type of license surety bond that protects clients from fraud and illegal activities. This bond is required as part of the state registration process under Idaho Statutes 30-14-102.
How Much Do Investment Adviser Bonds Cost in Idaho?
In Idaho, every investment adviser needs a $25,000 bond for licensing. Premium rates start at 1% of the total bond amount, or $250. These bonds are underwritten, so prices vary depending on risk factors, primarily credit score.
If you select a multi-year term, you can save up to 25%. Apply now to get a free quote!
SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees.
How Does an Idaho Investment Adviser Bond Work?
An Idaho investment adviser bond binds the following three parties in a legal agreement:
- Principal: The investment adviser filing the bond
- Obligee: The Department of Finance – Securities Bureau requiring the bond
- Surety: The provider issuing the bond
If you, the principal, violate the bond terms, the surety will pay valid claims up to the bond amount. In the end, it is your responsibility to reimburse the surety provider.
Who Needs an Investment Adviser Bond?
All investment advisers in Idaho need this bond to operate legally. This includes anyone who helps clients buy and sell investments or assists with financial planning.
If your firm is not located out of state but has more than five clients that reside in Idaho, you may also need this bond. To learn more, view the application procedures form.
How Do I Get an Investment Adviser Bond in Idaho?
SuretyBonds.com provides the fastest and easiest way to get an investment adviser bond. Just follow these three simple steps:
- Apply: Submit a free quote request
- Sign: Complete the DocuSign for your indemnity agreement
- Purchase: Checkout online or over the phone
We’ll email your official bond once your purchase is processed. Sign and file it with the Department of Finance Securities Bureau along with your license application.
Can I Get Bonded With Bad Credit?
You may be able to get this bond with bad credit, request a quote to see if you're eligible. Visit our bad credit bonding program page to learn more.
How Do I Renew My Investment Adviser Bond?
Depending on your term selection, your investment adviser bond will last for 1–3 years. When you approach your renewal date, a SuretyBonds.com representative will contact you with an invoice for the next bond term. Simply pay the invoice to renew your bond.
How to Become an Investment Adviser in Idaho
All investment advisers need to be licensed with the Department of Finance to operate in Idaho. To get licensed, start by gathering these required materials:
- A $25,000 surety bond
- A recent balance sheet
- A copy of the client contract form
- Qualifying officer designation
- $150 filing fee
If you have a firm outside of Idaho you’ll also need to submit Form ADV IA, IB, and new Part 2.
Submit your application packet to the Department of Finance to receive your license. You must complete all steps within 6 months. After your registration is approved, you will receive your investment adviser license.
This license will expire on December 31st every year unless renewed. To renew, simply pay the $150 filing fee before the end of the year.
